(FT) Shares of the Semiconductor Manufacturing International Corp fell 6.4% on Wednesday on reports that the US was targeting about eight Chinese companies on a black list on Thursday.
World’s largest drone maker DJI was included in the black list that targets firms for their alleged participation in the surveillance of minority Uyghur Muslim.
Other firms on the black list include Megvii Technology Ltd, CloudWalk Technology, Xiamen Meiya Pico, Leon Technology, Yitu Technology, and NetPosa Technologies. Supercomputer manufacturer Dawning Information Industry is also targeted.
Several listed pharmaceutical firms, including Wuxi Biologics Cayman Inc. and Sino Biopharmaceutical Ltd, fell 25% and 5%, respectively, despite remaining unclear whether they will be included.
More than two dozen Chinese entities are also targeted in the Thursday blacklisting, with reports suggesting two biotechnology firms.
The sanctions happen when the White House maintains a tough stance on Beijing’s conduct in Xinjiang, with the administration also considering rules on US firms selling to SMIC.
The decline in Chinese stocks dragged the Hang Seng Index to be the second-worst performer in the region after shedding 0.9%.
Hang Seng Index is down -0.91%.
